Facebook’s Asian Rival Is Spreading Its Leg

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Asian Rival

Tencent Holdings, a Chinese investment conglomerate which is the largest internet company in China, has overtaken social networking giant Facebook.

Country’s famous and hugely popular messaging app, WeChat is owned by Tencent Holdings itself. Apart from that hit series of Honour Of Kings and League of Legends are the products of Tencent Holdings.

Tencent is the first ever Asian organisation to have the market value beyond the worth of $500bn. According to the Forbes magazines, the CEO of Tencent, Ma Huateng holds more market value and worth than Google founders.

On Tuesday, Forbes ranked him at a value of $48.3bn, making him the night richest man on the earth. This announcement certainly lifted the value of Tencent shares in the market. Seeing this rise in the market, Tencent also announced that next year it will start its WeChat payment services in Malasia.

The company is planning to launch its Honour of Kings game in the U.S. market soon.

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